Other income overshadowed Repro India's weak operating profit in Q1
Management said Q2 revenue should be higher than Q1, while FY27 capex guidance is Rs 10-15 cr.
Filed 04 Aug 2026, 13:46 IST · REPRO (REPRO)
Key takeaways
- Other income of Rs 168.77 cr exceeded profit before tax of Rs 160.03 cr, making the Rs 128.56 cr net profit largely non-operating.
- Operating margin was only 2.73%, with operating profit at Rs 3.82 cr against expenses of Rs 136.09 cr.
- Management said consolidated Q1 revenue was approximately Rs 141 cr, up 20% YoY and the highest quarterly level in company history.
Operating profit was dwarfed by other income
These consolidated results show a sharp split between the operating business and reported profit. Operating profit of Rs 3.82 cr was overshadowed by other income of Rs 168.77 cr, which exceeded profit before tax of Rs 160.03 cr. After interest of Rs 3.76 cr, depreciation of Rs 8.8 cr and tax of Rs 31.47 cr, net profit was Rs 128.56 cr; its quality is therefore heavily dependent on non-operating income.
Record revenue came with limited digital-volume growth
The presentation said Q1 revenue of approximately Rs 141 cr rose 20% YoY and was the company's highest quarterly revenue. It also reported Digital Books averaging 43,636 per day, up 3% YoY, indicating that the reported revenue growth was not matched by the same pace in this volume metric. Management said insufficient content digitisation means more than 95% of sales come from 100,000 titles.
Management outlined capacity and distribution expansion
Management said Q2 revenue is expected to be higher than Q1 and that the Long-run vertical is expected to grow by double digits in FY27 from its FY26 base of Rs 104 cr. The company said it plans FY27 capex of Rs 10-15 cr, up to 10 sales channels by the coming year and a first mini pod facility in Bangalore for South India. Management also said it has started a technology project to optimise supply-chain operations.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹140 cr |
| Other income | ₹169 cr |
| Expenses | ₹136 cr |
| Operating profit | ₹4 cr |
| Operating margin (%) | 2.73% |
| Interest | ₹4 cr |
| Depreciation | ₹9 cr |
| Profit before tax | ₹160 cr |
| Tax | ₹31 cr |
| Net profit | ₹129 cr |
| EPS (₹) | ₹89.62 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Consolidated Q1 FY27 revenue was approximately Rs 141 crore, up 20% year-on-year and the highest quarterly revenue in company history.
- Digital Books averaged 43,636 per day in Q1 FY27, up 3% year-on-year.
Guidance & outlook
- Q2 FY27 revenue is expected to be higher than Q1 FY27.
- The Long-run vertical is expected to grow by double digits in FY27 from its FY26 base.
- The company has provided FY27 capex guidance of Rs 10-15 crore.
- The company plans to open up to 10 sales channels by the coming year.
Expansion
- The first mini pod facility in Bangalore will serve the South India market.
New initiatives
- The company has launched a project to optimise supply chain operations through advanced technology.
Problems & risks
- Insufficient content digitisation means over 95% of sales come from only 100,000 titles.
What to watch
- Whether Q2 revenue exceeds Q1's Rs 139.91 cr.
- Whether operating margin improves from 2.73%.
- Progress in the Long-run vertical against its FY26 base of Rs 104 cr.